Bank OZK (NASDAQ:OZK) Announces Earnings Results

Bank OZK (NASDAQ:OZK) released its quarterly earnings results on Thursday. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.12, Briefing.com reports. The company had revenue of $412.34 million during the quarter, compared to analysts’ expectations of $407.19 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 earnings per share.

Bank OZK Price Performance

Shares of OZK stock traded up $0.12 during trading hours on Thursday, reaching $45.34. 1,473,926 shares of the company were exchanged, compared to its average volume of 1,551,636. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 7.46 and a beta of 1.20. The stock’s fifty day moving average is $46.40 and its two-hundred day moving average is $44.13. Bank OZK has a fifty-two week low of $37.43 and a fifty-two week high of $51.50.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This is an increase from Bank OZK’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.71%. Bank OZK’s payout ratio is currently 26.97%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Stephens upped their price target on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Piper Sandler lifted their target price on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Truist Financial cut their price target on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, October 21st. Wells Fargo & Company increased their target price on Bank OZK from $35.00 to $40.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Finally, UBS Group assumed coverage on Bank OZK in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $48.25.

Bank OZK Company Profile

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.